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the environment. secondly, you talk at one point about the european parliament being an important partner for you and all the crisis related issues. white and has the fiscal pack gotten to the point that it has? when it's already clear that has two points that are conflicting with e.u. law in material and in formal terms, and that hasn't been regulated the european level. and implementation of the pact by the commission, well, how can we go along with that if the parliament is going to be excluded from that? you will have to deal with that on the first of the first. that is to come into force, but it will be impossible to implement it so how are you going to reconcile that contradiction? thank you. [speaking in native tongue] >> translator: chancellor, let me thank you very much for coming in today. i think it's been an interesting discussion. with certain heard a lot of political rhetoric. wavered not much economic reality from some members but that we are. we're used to it in this chamber. the october revolution was something to be celebrated, but chance of, i wish you well in a meeting with my
document. the job of government is to provide an environment in which our citizens can live their lives knowing that they will not be subject to nefarious actions by others. in the case of the farmers and ranchers, the terrible stories, thousands of stories like this that the chairman described. there was a failure of government to protect these people, and the results of this investigation, fulfilling congress' obligation to oversight, tell us we have many opportunities to improve and provide better protection, and these opportunities run the gamut from following the behavior of those who are in charge at entities like mf global to monitoring and modifying the ways in which the rating agencies do their business, do their job. there have been so many failures in so many ways, not only at an f global, but at other similar stories in recent history. one common strand seems to be that we need to provide our regulators with better tools to pursue the enforcement of law that existed prior to the massive imposition of dot-franc pit which did not have infinite resources and united states, nor
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